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Some Nevada credit unions provide payday advances, but most avoid lending that is short-term

Some Nevada credit unions provide payday advances, but most avoid lending that is short-term

The CEO of just one for the credit unions that are largest in Nevada indicated concern Wednesday about their users’ usage of pay day loans but stated short-term loans offered through their credit union included cheaper prices and better solution compared to those provided through storefronts or online.

The CEO of just one for the biggest credit unions in Nevada indicated concern Wednesday about their users’ usage of payday advances but stated short-term loans offered through their credit union included cheaper prices and better solution compared to those provided through storefronts or online.

Brad Beal, president and CEO regarding the 75,293-member One Nevada Credit Union, stated the credit union re-entered the cash advance company a year ago because of the launch of Advance Pay.

“It happens to be perfectly received,” he said. “We problem several hundred loans a thirty days.”

Beal declined to reveal the final number of loans released. Continue reading Some Nevada credit unions provide payday advances, but most avoid lending that is short-term